BlackRock makes staffing changes following ESG investing pushback (2024)
| Environmental, social, and corporate governance |
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BlackRock is changing its wealth management approach and staffing for public and private clients following pushback from critics who argue the firm’s investment strategies hurt the oil and gas industries:
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BlackRock is changing its strategy for interacting with wealth-management clients in the U.S., shifting a seasoned fund-distribution executive into a new role designed to cultivate relationships, including with clients in Texas, where it has run into criticism over environmentally conscious investing. The firm, which oversees $10.5 trillion of assets, is also putting a longtime BlackRock wealth leader in charge of reorganized teams catering to U.S. wealth clients, Barron’s has learned. The shift comes as BlackRock, already the world’s biggest asset manager, seeks to expand its ties with rich investors and calm a backlash over oil and gas investment strategy, among other areas. The firm, led by CEO and co-founder Larry Fink, is trying to mend fences in Texas, in particular. It has faced fierce public criticism from conservative state officials there and lost business over environmentally conscious investing practices.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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